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gavmur [86]
4 years ago
12

In confirming with an outside agent, such as a financial institution, that the agent is holding investment securities in the cli

ent's name, an auditor most likely gathers evidence in support of relevant financial statement assertions about existence or occurrence and:_______.
1. Completeness.
2. Valuation and allocation.
2. Valuation and allocation.
3. Rights and obligations.
4. Classification and understandability.
Business
1 answer:
marissa [1.9K]4 years ago
8 0

Answer:

3. Rights and obligations.

Explanation:

This evidence is in support of relevant financial statement assertions about existence or occurrence and Rights and obligations. Even though a specific confirmation request does not test all assertions equally well. Especially since more than one agent may be holding securities for a single client which may or may not be specified within the request.

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Which of the following, if true, would strengthen the argument to use coercive techniques in this situation?A) The company is on
irinina [24]

Answer:

The correct answer is: the A option

If the company is on a tight deadline to complete a major project for an important client

Explanation:

If the company finds itself in difficult times due to work issues, then this weakens the argument for using coercive techniques.  

Now, if the company has the luxury of hiring temporary workers to take care of the backlog and finish it on time, then this could further weaken the need for coercion.  

If there is a highly skilled workforce, then the use of coercion can result in a reaction from employees. If employees are demotivated by the rigorous work culture, then the use of coercive techniques would only demoralize them further.

7 0
3 years ago
The Jameson Company just paid a dividend of $0.75 per share, and that dividend is expected to grow at a constant rate of 5.50% p
jok3333 [9.3K]

Answer:

Current price of the stock of Jameson company is $18.62. Therefore, the correct option is A

Explanation:

The formula of required rate of return is:

Required rate of return = Risk free rate + Beta × Market risk premium

= 4% + 1.15 × 5%

= 4%  5.75%

= 9.75%

Computation of current stock price is:

Current stock price = Expected dividend per share / (Required rate of return - Growth in dividend)

= (0.75 + [5.50% × 0.75] ) / (0.0975 - 0.055)

= 0.79125 / 0.0425

= $18.62

5 0
3 years ago
If you are a passive investor who has a well-balanced international portfolio, how your expectation should be regarding the futu
Rufina [12.5K]

Answer:

Following are the responses to the given question:

Explanation:

This problem could be viewed as the upward sloping business cycle. The dividend curve is a graph that plots borrowing costs against time on the x-axis. As just a result, the upward slanting bond yield implies higher future borrowing costs for returns. Both as result, unless you're a minority shareholder, you'd become hopeful about long-term assets that will pay off in the potential.

3 0
3 years ago
In its income statement for the year ended June 30, 2009, The Clorox Company reported the following condensed data (dollars in m
Kruka [31]

Answer:

Clorox Company

multiple-step income statement.

Net sales                                                                       $5,450

Less Cost of goods sold                                             ($3,104)

Gross Profit                                                                   $2346

Less Operating Expenses :

Selling and administrative expenses          $ 715

Research and development expense          $ 114

Advertising expense                                    $499     ($1,328)

Operating Income                                                        $1018

Less Non Operating Expenses :

Income tax expense                                     $276

Interest expense                                            $161

Other expense                                                $46      ($483)

Net income                                                                   $535

Explanation:

The multiple-step income statement shows separately the income derived from primary activities (operating income) and secondary activities (net income)

8 0
3 years ago
When there is a decrease in the price of a goodthe demand curve will shift to the right.The elasticity of demand will determine
Margarita [4]

Answer: The elasticity of demand will determine the degree to which quantity demanded rises.

Explanation:

Acc. to the law of demand, demand for a normal good is negatively related to its price. When price of the good falls, quantity demanded rises.

Price elasticity of demand shows us the magnitude of change in quantity demanded to a change in the price of the good.

So, when price falls, elasticity will show us by the degree to which quantity demanded rises.

8 0
4 years ago
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